Archive

Archive for October, 2010

At Least Bring In The Pros

October 29th, 2010 No comments

link TSA Changes Pat-Down Procedure at Airports – ABC News.

Apparently there are complaints filed from the  Lap Dancers’ union known as LEWD, Ladies Employed While Dancing,  local 44DD about encroachment by the TSA into their workspace.  As some may know, at strip bars, patrons can pay for a session with a dancer who then proceeds to gyrate her body on an appreciative customer.  Naturally, these kinds of services are not free, patrons are obligated to pay for the few moments of titillation.

The dancers’ union now fear that the new TSA invasive search policies amount to encroachment upon their business and are demanding that they have their union members employed to perform the searches.   A spokesperson for the union,  LEWD,  stated:

“…We are disturbed and dismayed that the Federal government would take jobs away from our members.  During this tough time in the economic cycle, people should not be cannibalizing each others’ jobs.  Our members have specific skills and experience in feeling up patrons whereas TSA staff are neither trained nor qualified for these positions.  At the very least, there should be uniformity for the screeners, minimally the standard G string.  In addition, the working environment must include loud rhythmic music as is mandated in all of our work locations.   Since most of the members of LEWD are women, we consider this an attack on the employment prospects of women and expect full cooperation by the TSA in addressing our concerns and hiring our members…”

Separately, travel agents report a spike in travel plans by college aged men.

Keep Job, Lose Company

October 29th, 2010 No comments

link Lefty Crackpot Theory: Chinese Dictators Funneling Cash into Campaigns for Overseas Jobs.

News for idiots like this guy Papantonio who are pushing this crackpot theory.  Pay attention to the state of the currency and financial markets.  The decline of the U.S. currency in world markets makes the notion that the Chinese need to steal jobs away from Americans moot.  Why fiddle with jobs when their economic clout enables them to buy entire companies!  If a tool and die manufacturer in Guangzhou province needed demand for their output, why not just raise some money and purchase Ford, Chrysler or even GM at these depressed prices?  Voila, instant vertical integration.  If he read something besides the Huffington Post, he’d realize that there’s a whole big world out there that is not plotting to get U.S. jobs.

There was a news item today that stated that the Chinese now claim the world’s most powerful supercomputer.  Apart from political issues, what’s to stop them from buying Motorola, Advanced Micro Devices or perhaps even Intel to vertically integrate their operations?  The low interest stimulative policies being pursued now by the U.S. Fed, amusingly labeled QE 2, are driving down the value of the U.S. dollar which makes all dollar assets cheaper relative to other world currencies.  In addition, since few other nations are as indebted as the U.S., they can afford to take on huge debt to finance purchases. 

At the  moment, there is a literal gold rush occurring for not only that metal but all manner of industrial and commercial resources worldwide, principally by the Chinese to fuel their burgeoning domestic as well as regional economies of Asia.  As these commodities get scarce, Western industries will find it harder and harder to compete for these industrial raw materials. Recently, some alarms were sounded over China’s hoarding of rare earth metals used in many of today’s hot consumer items.  http://www.businessday.co.za/articles/Content.aspx?id=125172 

So the kind of scaremongering by Papantonio is expected for a partisan hack . At the very least he understands that in a global economy, money is very mobile.  If people are insisting on buying IPAD’s and IPhones by the boatload, they’ll have to resign themselves to the fact that they cannot be made in the high cost environment of the US and even Canada.  If that were not the case, all of Apple’s manufacturing and assembly would be in the U.S.  With some of the politicking going on now by many candidates, you’d think that they actually have the ability to bring back lost jobs to their constituents.  With some union jobs at GM commanding anywhere from $40 to $75 per hour including all benefits, these wage levels are as appealing to companies as hoop skirts at a bachelor party.

To illustrate the scale of wealth being created in Asian economies, a recent article noted in bloomberg noted that the Las Vegas Sands owned Marina Bay Casino recently openend in Singapore, pictured above, contributed over $260 million dollars to the bottom line of the parent company…in the last quarter!  They didn’t steal any U.S. jobs.  They made their own.  According to Morgan Stanley, the Singaporean market could generate 7 to 10 BILLION dollars in cash flow by 2012.   Does this sound like they want or need U.S. jobs?   From the Wall Street Journal:

“…According to the CapGemini World Wealth Report, 13,954 ultra-wealthy individuals—those with investable assets north of $30 million—live in the countries surrounding Macau. In Singapore, Indonesia and Malaysia, there are 1,485. “But add in India, which is just a five-hour flight from Singapore, roughly equivalent to the flight time between New York and Las Vegas, and that number rises to 2,566. says Morgan Stanley analyst Mark Strawn, a former Las Vegas Sands employee. He figures that India alone could supply another $1 billion to $2 billion. “Singapore has gone from zero to a $4.5 billion gaming revenue run rate in six months…”

This will happen more and more with the emergence of Asian economies as they begin to vertically integrate basic manufacturing industries.  Politicians had better worry more about keeping their domestic houses in order and figure out why the growth is over there, not over here.